UAE - Mubasher: Abu Dhabi Developmental Holding (ADQ), one of the region's largest holding companies, launched an AED 1.1 billion Alpha Wave Incubation (AWI) Fund, according to the Emirates News Agency (WAM).

Located at the Abu Dhabi Global Market (ADGM), the fund aims to support Indian and Southeast Asian startups in setting up global or regional headquarters in Abu Dhabi’s Masdar City.

Meanwhile, the fund, run by the New York-based Falcon Edge Capital, will allow its companies to have access to the UAE and MENA markets.

ADQ CEO, Mohammed Hassan Al Suwaidi, said: "Alpha Wave Incubation Fund will further encourage Abu Dhabi’s culture of entrepreneurship and help to promote its emerging position as a global innovation hub, in line with the Ghadan 21’s accelerator programme’s investment in Abu Dhabi’s economy, knowledge system, and communities."